tv Lou Dobbs Tonight FOX Business March 7, 2013 7:00pm-8:00pm EST
gerri: to wacky in many towns i told you about, lancaster, california which is forcing residents to have solar panels on their homes. and georgia, making gun ownership mandatory. we asked on gerriwillis.com. where would you rather live? 6 percent said lancaster. 94 percent of you said nelson. that is where my heart is off. be sure to log on to gerriwillis.com for online question every weekday. and we will get into some e-mails today. gary from indiana, where the politicians planning job losses when they should just be cutting government employe you pay a flat 15 or 20 percent like private industry has been doing for years. wake up, america. and here is jennifer from maryland. the cost of pharmaceuticals is largely due to the rigorous testing and aftermarket investigation that is required in this country. in other countries there are "less of the fda, but all they do is follow we have discovered.
we bear the cost of research and development for medicine for the entire world which dramatically decreases their medical costs and is not fair to compare our cost with other countries. interesting. finally tonight, that spread chocolate peanut butter. people going crazy over it. the dining program at columbia university cannot keep the chocolate hazelnut topping in stock. the rush for this week trip is costing them $5,000 a week. they're going to 100 pounds each state. it is so popular, students are filling up to go cups and pouring it. as much as i love it, it seemed like spending more than a quarter million dollars on a job ) every year is making it hard for universities to bring that cost. many students should settle for been a better and jellylike adding college. maybe mom and dad can spend some. thank you for joining us. we will see right back here tomorrow. ♪
lou: good evening, everybody. the sequester has been in effect now since march 1st. six full days of sequestered, and not the single sign of armageddon or the apocalypse that president obama threatened would befall us. quite the opposite, in fact. wall street today produced another record-7 performance. the dow jones industrials, up 33 points closing a record high for a third straight session. standard and poor's 500 gaining three points, closing just 21 points from its all-time record, and the nasdaq up ten points today, still off nearly 36% from its record closing high back in 2000. the markets and popular opinion moving decidedly against president obama on the issue of
sequestered. in the campaign here that he and his administration and wager too much. it turns out, sequester has not slowed our economy and does not even begin to approach the harm caused by this president with his implementation at the beginning of the year of obamacare taxes and the expiration of the payroll tax that. president obama's over hype threats of the impact of sequestered have proved illusory politically. just take a look at the three most recent polls of his job performance. his job approval below 50% in each of these polls. gallup, 47 percent approval, down one from yesterday, 46 percent disapproval. 45 percent approve, 46 percent disapproved. the president did win approval today for another of his
nominees. the senate confirming john brennan to be the next director of the cia. not without a lot of political theater and some drama. the big story in washington over the past 24 hours has not been the president's sudden lurch into bipartisan politics and dinners and lunches, but that divide that has been manifest in the republican party. at least two republican senators appearing to be more concerned about their relationship with president obama than with many of the younger senators of their own party who stood up for civil liberties in their filibuster against brennan's nomination. senator rand paul of kentucky led the charge, speaking for exactly 12 hours and 52 minutes on the floor of the senate. joining him in that filibuster, 13 republicans and a lonely democrat. senator paul and his colleagues blew up twitter with their performance, winning widespread positive support, except for to elders of the senate who were
anything but gentlemanly as this in a normally requires as they hurled insults at senator paul and the other senators who supported him. >> somehow to alleged that the united states of america, our government, would drop a drone hellfire missile on jane fonda, that is -- that brings the conversation from a serious discussion about u.s. policy to the realm of the ridiculous. >> this idea that we are going to use a drug to attack american citizen in a cafe in america is ridiculous. lou: it is clear, most americans agree with senator rant paul's elevation of one of the most fundamental of our civil liberties and his filibuster in support of those liberties. tonight the senator finds his national standing elevated as well. joining us now is senator rand paul, republican of kentucky, a member of the senate foreign
relations committee. the senator is also on the homeland security committee. great to have you with us. you have done a great service. you have impressed everyone with your stamina. you may a critically important point. how are you feeling after putting an all of those hours on the floor of the senate? >> i was wondering if we could do this interview sitting down, but your staff would not let me sit down. i'm still standing. but that is the hard part about the filibuster. goes on. they're for 13 hours, but you sit down. you lose the floor. you have to leave to take care of any personal neat, you lose the floor. so for 12 hours of almost 13 hours i had to stay in one place lou: and to use the expression, you blew up twitter last night. social media. focusing on what you were doing. doing so, by the way, not simply focusing on you as a celebrity, although you're a celebrity has been significantly elevated as a result of what you and your
colleagues did on the floor of the scent. i have to say to you, i am not only impressed with what you said, what you did, but the fact that you brought so many of your colleagues ford into that filibuster standing on that principle. you have got to be incredibly gratified as a result. >> it was kind of exciting because one, did not know we were going to do the filibuster. we did not talk to anybody before hand. the opportunity presented. we knew we were concerned about this issue, an american president to kill americans on american soil without any trial or any charges. we really had not planned exactly when this would happen. then all of a sudden spontaneously through the day other senators began to come. one of the other gratifying things' was many members of the house of representatives came over. they are allowed to come on our floor. they're not allowed to speak, but it is rare that you will see 15 members of the house of representatives coming over to
support the fight that is going on in the senate floor. lou: you and senator crews today introducing legislation specifically to approach -- prohibit the use of drones in killing -- this is extraordinary that we have to have legislation and clarification on an issue to absolutely prohibit the killing of american citizens on american soil by these drones. it is just incredible as we say this that this issue had to be dealt with in this fashion. >> a lot of this is because the president would not make response. we kept asking for the last month and have asked president obama to respond and say, you're drawing program that you do overseas, are you planning on using that on american soil? because they have been saying which either incorporate the fifth amendment process into our power point presentation is in the white house and our
flashcards. i say, well, you know, that standard mayor may not be okay overseas, but you cannot accuse an american secretly and then bomb them while they're at a restaurant. and finally today we did get an answer, finally get a response. he says he does not think he has the authority to do that, and that think we should all feel comforted, although a little disappointed that it took nearly a month and a half to give the answer from him. lou: you also prompted the most succinct answer i ever heard in his entire tenure as attorney general. eric holder. saying it has come to my attention that i want to share this with our audience. it has come to my attention the you have now asked an additional question. does the president have the authority to use a weapon is drawn to kill an american not engaged in combat on american soil? the answer to that question is no. >> it was a really an additional question. it was to sharpen the question. we kept asking the same question
and focusing in and focusing and focusing it. people say, why would you have to ask the president that? i would ever imagine he would do this? one, there would strike people are not actively engage in combat. the other reason we have to, even some on my side, some believe that there is no limitation so where the battlefield this and that america is part of the battlefield. they want the law of worse to apply heat on the new process. of our soldiers are shooting you don't have the allaire. you kill the enemy. in america, part of america is not the battlefield, you do get a lawyer. you dvd process if you're an america. lou: want to turn in five major to of this senior senators on the republican party. nighter then be particularly gracious, insulting as they could possibly be.
saying to you, come down. much of what you are declaring, ridiculous. and as you were standing in the midst of the senate, they were having dinner with the president of the united states and ten other senators who were conducting, if you will, a bipartisan feast at the president's -- on the president's time. what is your reaction to their comments? >> i think on this particular issue there on the wrong side of the history. people on a right to trial by jury, due process, the right to be indicted and charged, you really are arguing against the bill of rights. they literally have. last year we passed legislation against my wishes that allows for the indefinite detention of american citizens without a trial. i asked the senator a pointed question on the floor.
does this mean you could send an american citizen to guantanamo bay without a trial. he said yes, if they're dangerous. even the "wall street journal" is on the wrong side of this issue, and i think is understands it. if you are an enemy combatants. the whole problem is, who gets to define who is an enemy combatants and who is not. lou: the senator is referring, if i may, to an editorial that excoriated the senator. i get to express my opinion on this broadcast center. i think it were, as you say, all on the wrong side of history and certainly issues that are most critically important to the american people. senator, we are out of time. i just want to say, again, thank you. congratulations. not pointing the point today.
standing in for what you believe is right. >> thank you. lou: senator rand paul. lou: it looks like a billionaire mayor is trying to by the second amendment. we take it up. stock prices are still rising, reaching another all-time high. oil street legend on whether the market is headed even higher or whether it's time to take a profit. ♪ so let's break down this play. charles? uh, charles couldn't make it. his single miles card blacked him out here and here. he should have used... the capital one venture card. he's coming to us from home. hey fell... hey baby, you want mama to iron your undies? nice tightie whities. i didn't know mrs. barkley made quilts. really? looks like a circus tent. is that the be you got?
able to handle the sharp deep downturn in the economy. next week the fed will announce which banks will allow it to proceed with higher stock buyback and dividend payment plans. of course, more good news for markets and the brimming with positivity three days of record highs from the dow. the market continues his winning ways are we do for a pullback? we will be talking with the president of holland balance fund will join us in moments. first, if we may, few market notes. dropping to los level since president obama has been in office for the third time this week with the dow reaching another record high. the dow up 33 points. the new record 14,000. higher. the s&p in the dow up five straight sessions. the nasdaq up nine points. volume on the big board. the dow is not the only record high. all three broad market russell
indexes also with all-time highs boeing gaining its way despite the dream liner. regulators may soon give the okay. the national transportation safety board will hold hearings next month into the battery issues. retailer gap up 4% on better than expected results. financial strong. bankamerica of 3%. time warner gained two and a half% selling its magazine division. in the commodity market chemicals that the higher, pulled up better than a dollar, selling in bonds, interest rates higher. the treasury's ten year yielding . household wealth rising in the final quarter of last year to 66 trillion. in january, consumer credit rose to a record high. personal debt at just over two and a half trillion dollars. stocks are still the best game in town, but investors a plenty of reason to be skeptical.
joining us now with this outlook . could have you with this. what a market. is it going to continue? >> the best bet will be that it will. we have data for your bull market. are people deem washington. despite the craziness. and in europe to some extent. a little bit better than we are with addressing some issues. a major part of this story. just the u.s. economy pepita our things recovering. the answer is we have had business is doing well. as you reported every night. the evaluations are not extreme. lou: 70% of the companies to this point as we wrap up the
earnings, surprising to the upside. managing expectations. there just seems to be so much good in this marketplace. d'agata skeptical. i have been hobbled throughout. as we're looking at these records, this just can't keep going. and it just keeps going. >> if you weren't in such a minority in your view from last few years as the market's been going up, if you have not been in the minority this was going on in washington, so many people concerned about the fiscal cliff sitting with you here. people were scared. we have spots like ibm, j.p. morgan, exxon mobile, trading in very, very low valuations because of the skepticism. lou: getting close to historical averages as multiples.
how much more have we got? another year's worth? another 10%? what do you see? >> that don't know anyone that does. what i can tell you is when you're buying something, house or car or a horse, when you these things you look for value. and the stock market, not just in the u.s., by the way. china has been -- it is exaggerated. people have sold stocks and dramatically. the economy is an extremely well . europe, no one believes the valuations there. a great company. great companies who were global but have to be domiciled. in the businesses. they're also very young. you have this skepticism causing this valuation phenomenon. lou: involved in the markets for very long time, watching the economy.
where do you see right now the broader economy? china facing all sorts of uncertainties. continuing the explosive growth. coming off of the ultra high levels. europe's struggling to find growth at all. in fact, it is in recession. where are we headed? >> the world's two largest economies. the u.s. and china are pushing, but grudgingly, the world economic picture into a little brighter area. you have that u.s. prole growing at 2%. some people say by the end of the year we might be seeing to one-half of from one and a half right now. washington has caused a lot of that. business is done very well. china has not in any way delivered hard landing, not even soft landing. we -- japan may be getting out of its 20 year warrants.
lou: they deserve whatever good can come their way. what a remarkable story. >> you have an economic creature . valuations. lou: always good to see you. i'll ask this for a short range forecast. what will the unemployment rate be tomorrow? >> approximately 78%. lou: all right. you have it. how many jobs will be created? >> 197,000. lou: and that is why we invite him on often. specificity on that which she does not know. great to have you here. good to see. up next, republican governor with a solid red state, his assessment of the future of the republican party. we will be talking with a man who wants to stay to be tax-free, income tax free. the governor of kansas joins us. the millionaire mayor trying to buy away your second amendment rights. straight ahead.
♪ lou: the senate judiciary committee today approved legislation making gun trafficking a federal crime, but the future of the legislation and other measures, including a ban on assault weapons and high-capacity magazines and universal background checks, really very much uncertain. here to talk about the tactics of those pushing controls, some of the absurdities that are, well, manifesting themselves, and the massive effort by new york city mayor michael bloomberg who is trying to by the second amendment. he has enough money to make at least a down payment. federal defense attorney and fox news contributor and psychotherapist. good to have you all here.
i want to start with this crazy gun owner block down in florida. state legislature wants anyone trying to buy ammunition to complete an anchor -- dca turn to you immediately. anger management programs. the latest example of overreach. >> and these people can take online. lou: excellent. an open book type of thing. >> and it is based really on an erroneous. if you take this online course somehow that will prevent somebody from being outrageous and rachael and murderous. somebody else could take this exam on line and then go get the ammunition. you could have somebody you could pass an end -- anger management. lou: you're not saying that somebody might cheat on an online test? surely not. >> a knee-jerk reaction. >> of people having problems it does not mean that they are chronically in greek.
they are sometimes angry in one moment and not angry in another moment. and also, what happened. lou: a leading defense attorney. a rape victim testifying in a colorado legislature told by one of the legislators that she should not have a gun issue was being raped because it might turn the weapon on her. i mean, i have never seen such condescension as we have seen in this early part of the discussion. women want legislation. women should not be permitted because there too emotional. where the women's groups? >> in the last 35 years because of the tragedies in america caused by maybe five individuals who use a gun.
lou: five of them in the vernacular. they were crazy is tell. >> i'm not disagreeing with you. what has happened. reality is, it escalated the gun-control argument and debate right up there with capital punishment and abortion. it is -- there are now three. lou: but we have all been paying attention to that. what i don't quite understand is how no one is talking of a mental health care. it is insane. >> it is all through that. lou: bloomberg buying up the second amendment. >> i did not know it was for sale. lou: $35 billion. a lot of things go up. the second amendment is going to be resisted mightily. he is printing money all over the place. >> and he is going to continue. once he is not the mayor. lou: notices ecology this is one man with the billion dollars to
a how concerned should we be as a country of politically, legally, as well as societally in a psychological? when the will of the american people putting up with billionaires' trying to buy a way the constitutional rights and influence? >> are gonna let people know that is going on. they are tonight. i think that we give a lot of power and importance to those who have a lot of money and are used to people who are billionaires' acting like a world is their pizza. so in some ways it is not surprising. >> i am a new yorker. he would not have been the mayor if it wasn't for is billions. he definitely would be the mayor know because he was terminated. he bought a third term. lou: to from? and other billionaire. >> all the city -- lou: tell us, why in the world is the national news media and
the local media in new york city, this is a cosmopolitan city, the most sophisticated. it is amazing. and acting like the most provincial place of the earth in which to permit the selling of a public office like the mayor's office. >> at sigalert of new yorkers who love we have a good gun control laws in the state and feel fairly safe. i don't know if this is an issue >> it's very different than it is. lou: local community. >> people feel safe here. >> they voted your friend as the greatest where the city ever had and he cracked down on guns big time. lou: here when you and i were talking with him. >> correct. lou: he went after crux.
>> and he went after the bad guys. and it also -- this is an assault. you know what, this is an assault by this marian this little town on a great and vast nation in which she is trying to buy the constitution. let's not get it. by the way, this isn't some falling into the cracks. this is intentional and purposeful and exploited. this is a president and the democratic party going after a citizen's rights. >> is that going to happen. at think a lot of people understand the importance of the second amendment rights. even someone is wealthy thereof to put their money where they want, but at the end of the day i don't think it will change anything. >> the supreme court has ruled in two major decisions, you are allowed to have a gun as a citizen of the united states of america, but the government can control who has it.
if you're a felon or have mental illness or something else that would highlight. we can't give you this. lou: people start talking about universal background checks. i have had people try to, you know, be as me on the show to give me to say i am all about universal back rent checks. the fact is committed to you do business with. what is involved. right now the mental health of the psychologists and psychiatrists of this country have not moved one step on sharing health information. >> there is a problem. the socialization movement. trying to get mentally ill people hospitalized. lou: out in people with a straight face a this is about control when the last five tragedies have been by an absolute not job. >> it's a very concrete way of looking at the situation and what happened in canada it, it was like that september 11th of kids. all of these people are coming
out and feeling like we need to do something. lou: why not go after people who are mentally ill and make sure it doesn't. because it is too hard. easier this trip to hundred million people of this constitutional right. >> i think in control in this country should be -- the law should be macrocosm. good for new york. it's not just oklahoma but taxes. call the police in new york. they're there in four minutes. border town new york and it would take them 40 minutes because -- is understandable a woman once again. woman in brooklyn call someone an informant as their is a cop on her door with much more firepower than she will ever have. >> i just think credit cards. lou: that was the last for on this issue. thank you very much. we appreciated. much more on the bloomberg attempt, the second amendment purchase go down in history books that way. you will be talking about that later in the broadcast.
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balance those numbers together and projecting budget deficits, by the way, as a result of some of the cuts. you will tell us how he will fix all that, man who is fixing quite a bit. pri to have you with us. that is an ambitious idea. you have brought about -- down to two rates as a result, cutting tax rates. it is early. you did that effectively the first of the year. i know it's early, but what has been the effect? >> we had the largest number of new business filings we have ever had in state history. 15,000 business. we went to zero immediately on elsie and sub s pastor in come. any small business person watching your show was the best liz america that a small business connections is is it. lou: the tax rate. >> zero. but that is how small business is organized. that is the job-creating machine.
that is where three-fourths of the population works. lou: have the jobs in the country created in those small businesses. 14 million small businesses. you have a target rich opportunity here. what is the effect on your physical condition? >> of $500 million balance right now. when i came and we had a $500 million projected deficit. the duty above states is you cannot deficit spend. you have to balance each year. lou: most states. california. >> they are not supposed to i will let their budget people. we flip that around. we did it through cutting and restraining and targeting and increasing things. no across-the-board cuts. so we have a position is a good chance to grow. wind to extend their sales tax. it was there. it was going to go off.
>> but you will have to, but your income somewhere. we want to do is get ourselves in a position to grow because we have had 30 years of decline. we have not been growing as fast as the rest of the nation. out migration state for a long time. it is time to change. lou: what are you looking for in the way of growth of population growth, business growth, gdp, if you will. >> what i want to see us to do is grow at least as fast as the surrounding states and the region with my eyes on texas. they have had strong growth rates taking place. lou: strong members. >> strong numbers to emulate. it is doable if people act economically rational. people now are much more willing to move to get to a place that is a pro-growth and a pro-family opportunity than they were a decade or certainly generation ago. people are a lot more mobile. lou: it is laudable, everything that you in the state are trying to accomplish in getting done.
very quickly, your views on what is happening in washington. we are watching. tubal senators and lindsay gramm and john mccain insulting a group of senators standing up for civil liberties. have a party that said they will do everything in regular word that suddenly is starting to look questionable because they're all going to dinner with the president's or having lunch with him. what is the deal? >> i think what you have at the core is all of the problems and questions in washington have tough answers now. the place is broke. it is out of money. it is overspent come over committed, and that is all well known. now it is time you're going to have to start to fix this thing, and you need to fix it before the markets as we all want any more money. all the answers are tough, so people get testier. that type of of this year, but really what needs to replace his
joe biden insisted down and start talking with people on an everyday basis. how are we going to work away through this. lou: you're just trying to scare people in the compliance. >> no. i am seeing the road forward is really sitting down at a bunch of different parks. we have serious problems. lou: i knew it was serious when he threatened to joe biden. that is tough talk. great to have you here. easy to see why can't this is moving. much luck as you move ahead. if you would like to join the discussion, go to foxbusiness.com. the link to our facebook page. e-mail me. tweet me. up next, a major flip-flop from the first lady and the secretary of state. the mistake they narrowly avoided. be glad they avoided it. we are next. ♪ power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.?
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pirate of multiple anti-american anti-semitic tweets at various times. secretary of state john kerry and the first lady, michele obama, were said to give a woman of courage award tomorrow. however, subjected to a virginity test after protesting in cairo's square. see also then tweeted her support for a suicide bombing killing israelis and brought this on the anniversary of september 11th, may every year come with america burning. you have to really wonder how she could get on a list by any definition. she claims her tweets were hacked, but the inflammatory comments expand the number of months. the post -- the election posts keep going up. the obama administration, sorry to report. the fact check third -- fact checker giving three pinocchio's backing of what has become almost a daily habit for the
administration. these three went to senator barbara boxer of california who said this. >> in the last 50 years only one party balance the budget, and that party is the democratic party. bill clinton and the democratic congress. the only party that never balance the budget, suspended the lectures from my friends on the other side of the aisle about how they're the ones that know how to do it. no, they don't. lou: the last five years have not been exactly a classic lesson in this responsibility. according to the "washington post", rewrote history badly. a rewrite that borders on the absurd. it wipes away any republican contribution in the process she forgot to give republicans credit. just yesterday, an economic adviser claimed capital genders will have trouble making ends
meet because of the sequestered. by the way, they may lose overtime. it would amount to an average of six and a half dollars per week of overtime if -- they figure they can handle that. up next, a champion of civil liberties find success with an old-fashioned filibuster. civil-rights still matter. civil liberties still matter in our nation's capital. the "a-team" takes up brand paul's filibuster. ♪ so let's break down this play. charles? uh, charles couldn't make it. his single miles card blacked him out here and here. he should have used... the capital one venture card. he's coming to us from home. hey fellas... hey baby, you want mama to iron your undies? nice tightie whities. i didn't know mrs. barkley made quilts. really?
washington d.c. radio talk-show host. great to have you with us. let me turn to you. mccain and gramm going after rand paul and 13 other senators and one democrat from oregon. what in the world are they thinking? >> i don't know what they're thinking. i don't know if they are thinking in all, but they certainly seem to be creating quite a divide the party. what he did yesterday was really an interesting, amazing -- excuse me, rand paul, what he did was an amazing feat to stand there and talk about something that he believed in. all he wanted the white house to do was say, we are not going to kill citizens with up to process your request in a today he finally came and said that. why they're not trying to support their party in this is something that is shocking and is a sad statement. lou: senator today chris said to me, you know, they are on the
wrong side of history, on the wrong side of the issue. this was a level of insult. these two senators, so much for the senate. this was nasty stuff. >> it was really quite extraordinary. i have to tell you, on my radio show today, the support was across the spectrum, not just conservatives and republicans, but obama voters. i literally had a socialist, a self-described socialist to was a cheerleader for what was being done yesterday. it was a great american moment. these guys are just not on the train. i was also shocked to see john mccain going after they chained find a common which was to my dog, one of his more humorous moments. and you have to take into account that he is filibustering here, so he is stretching, telling stories. he is talking for 12 hours and 52 minutes. give him a little psycho in custody is talking about here. lou: especially when you are chatting with the president of
the united states as he is working on constitutional civil liberties. to attack and seems to be beyond venal as a part of these two senators. >> i would like to say a word about the legal matters at issue here. that is, the real problem here is not the absence of due process but the pretense of due process. that is to say, the obama administration claims that its use of drugs overseas is governed by do process and that it is applying to process in those cases. well, it is not. that is what leads people to think, if they're planning to apply to process there when they're not really doing it, what is assumption here? lou: the definition of any combat and to rest entirely with the obama administration. that is not limiting. is one that is wide open to abuse. introducing legislation that
would prohibit specifically assaults on hours. over 300 runs a news right now in the united states. i want to turn to these gun safety ads that the administration has put dave ramsey under stations as we change subjects. the mayor trying to buy at the second amendment as best i can tell. >> maybe it's only worth $10 million because that is what he is paying for the illinois. he has treated a political pact to donate money, all of which is coming out of his pocket. $9 million card you about and support the gun issue. the guns don't -- are not even an issue for the illinois voters in the public care that much of this issue. this is blumberg's issue. he is taking it to a national level. lou: blumberg and president obama's without question.
what is the reaction? burst your reaction. your listeners as well. a billionaire spends big money implying that he would spend up to $600 million of this on monday to get his way on gun-control. >> this shows that you don't have to be smart to become a billionaire in the united states of america. also exposes another glaring example of democratic hypocrisy when they attack money in politics and wealthy people. mitt romney was demonized for being wealthy. here is the mayor using his vast fortune. it is okay if it is mayor blumberg, okay if it is george soros, is not if they're working for a pro constitutional cost. doing this in illinois where chicago has the strictest and gun laws in the country. simultaneously the highest murder rates. lou: we have just run out of time. i wanted thank you all. i apologize for the abridged discussion, but thank you.